Bernanke Says Proposed Foreign Bank Rules Would Reduce Risks

By Jeff Kearns and Joshua Zumbrun -
Dec 14, 2012

Federal Reserve Chairman Ben S. Bernanke said proposed regulations for foreign banks would
reduce risks for the U.S. financial system.

“The proposed rulemaking we are considering today is
another important step toward strengthening our regulatory
framework to address the risks that large, interconnected
financial institutions pose to U.S. financial stability,”
Bernanke said, according to remarks prepared for delivery today
at the Fed in Washington.

The proposal is consistent with “stricter standards” that
the board has proposed for the biggest U.S. financial companies,
Bernanke said. The plan reinforces the Fed’s “policy of
national treatment and equality of competitive opportunity
between the U.S. operations of foreign banking organizations and
U.S. banking firms,” he said.